Update on Debt Funding

    Update on Debt Funding 

Vast Resources plc / Ticker: VAST / Index: AIM / Sector: Mining

1 September 2023

Vast Resources plc(‘Vast’ or the ‘Company’)

Update on Debt Funding

Vast Resources plc, the AIM-listed mining company, is pleased to announce an update in relation to the Asset Backed Debt facility from A&T Investments SARL (“Alpha”) as announced on 16 May 2022 and the debt owed to Mercuria Energy Trading SA (“Mercuria”) relating to Tranche A of the Prepayment Agreement announced on 21 March 2018.

Further to the announcement made on the 7 August 2023 the Company has now concluded the legal documentation regarding the extension to 29 September 2023.

**ENDS**

For further information, visit www.vastplc.com or please contact:

Vast Resources plcAndrew Prelea (CEO)Andrew Hall (CCO)	www.vastplc.com+44 (0) 20 7846 0974
Beaumont Cornish – Financial & Nominated AdvisorRoland CornishJames Biddle	www.beaumontcornish.com+44 (0) 20 7628 3396
Shore Capital Stockbrokers Limited – Joint Broker Toby Gibbs / James Thomas (Corporate Advisory)	www.shorecapmarkets.co.uk [phone]
Axis Capital Markets Limited – Joint Broker Richard Hutchinson	www.axcap247.com [phone]
St Brides Partners LimitedSusie Geliher	www.stbridespartners.co.uk+44 (0) 20 7236 1177

ABOUT VAST RESOURCES PLC

Vast Resources plc is a United Kingdom AIM listed mining company with mines and projects in Romania, Tajikistan, and Zimbabwe.

In Romania, the Company is focused on the rapid advancement of high-quality projects by recommencing production at previously producing mines.

The Company's Romanian portfolio includes 100% interest in Vast Baita Plai SA which owns 100% of the producing Baita Plai Polymetallic Mine, located in the Apuseni Mountains, Transylvania, an area which hosts Romania's largest polymetallic mines. The mine has a JORC compliant Reserve & Resource Report which underpins the initial mine production life of approximately 3-4 years with an in-situ total mineral resource of 15,695 tonnes copper equivalent with a further 1.8M-3M tonnes exploration target. The Company is now working on confirming an enlarged exploration target of up to 5.8M tonnes.

The Company also owns the Manaila Polymetallic Mine in Romania, which the Company is looking to bring back into production following a period of care and maintenance. The Company has also been granted the Manaila Carlibaba Extended Exploitation Licence that will allow the Company to re-examine the exploitation of the mineral resources within the larger Manaila Carlibaba licence area.

Vast has an interest in a joint venture company which provides exposure to a near term revenue opportunity from the Takob Mine processing facility in Tajikistan. The Takob Mine opportunity, which is 100% financed, will provide Vast with a 12.25 percent royalty over all sales of non-ferrous concentrate and any other metals produced. Processing of stockpiled ore on site is expected to commence in mid-2022.